Business

Allianz chief economic advisor Mohamed El-Erian said Wednesday that he sees two of the contenders to replace Federal Reserve Chair Jerome Powell rise above the rest of the pack.El-Erian appeared on FOX Business Network's "The Claman Countdown" on Wednesday and said that BlackRock CIO of global fixed income Rick Rieder and former Fed Governor Kevin Warsh are his preferred picks to replace Powell, whose term as chair expires in May 2026."He's a […]

The fallout from Cracker Barrel's logo change and restaurant makeover isn't over. Shares of the food chain plunged Thursday as customer backlash and investor unease drove the chain’s worst losing streak in months.Shares of Cracker Barrel (CBRL) tumbled more than 12% on Thursday, the steepest drop since April. The stock, down 16.47% is on pace for its worst five-day stretch since February 14, when it dropped 17.7%. Cracker Barrel’s stock […]

A nostalgia-focused snack company made a shock announcement this summer by introducing battery-flavored corn chips.Rewind, a snack brand that debuted earlier this year, announced its newest product on July 10. The chips are inspired by a strange but familiar '90s sensation – what many recall as the electric tingle of a 9-volt battery.In a news release, Rewind said that "millions" across the world have been tempted to touch their tongues to […]

Aerospace giant Boeing is in talks to sell as many as 500 planes to China in a deal that's said to be at the center of a trade agreement between President Donald Trump and China’s President Xi Jinping, people familiar with the matter told Bloomberg. Boeing, which is in the midst of a turnaround led by CEO Kelly Ortberg, is still working out the details of the sale, such as what […]

The General Services Administration (GSA) on Thursday announced a new agreement with Google to deploy its suite of artificial intelligence (AI) and cloud services across the federal government.The deal comes as part of the Trump administration's "America AI Action Plan" and will see federal agencies pay $0.47 per agency to use Google's AI tools, including a new Gemini for Government offering. The deal is valid through 2026 and builds on the prior […]

The U.S. Federal Trade Commission (FTC) on Wednesday sued the operators of LA Fitness for allegedly making it "exceedingly difficult" for customers to cancel their memberships.Fitness International and Fitness & Sports Clubs, which operate gym chains, including LA Fitness, Esporta Fitness, City Sports Club and Club Studio, have illegally charged hundreds of millions of dollars in recurring fees through difficult cancellation procedures, according to the complaint."Gym cancellations have been hard […]

The minutes of the Federal Reserve's July meeting released on Wednesday showed that policymakers were more concerned about the risk of inflation from the impact of tariffs than the labor market as they debated interest rate policy.The Federal Open Market Committee (FOMC), the Fed panel responsible for monetary policy decisions, voted 9-2 to leave the benchmark federal funds rate unchanged for the fifth straight meeting at a range of 4.25% to […]

Michael Fiddelke will take the helm as Target’s CEO and join its board of directors in February, more than 20 years after starting his career with the retail giant as an intern.Fiddelke currently serves as chief operating officer for the Minneapolis-based retailer. He will succeed longtime CEO Brian Cornell Feb. 1, 2026, after the company's board unanimously elected him to the role, Target announced Wednesday.TARGET NAMES NEW CEO AS RETAILER FIGHTS […]

New York State Assemblyman Zohran Mamdani is holding on to a sizable lead in the New York City mayoral race, prediction markets data shows.Mamdani, the self-described socialist who prevailed to secure the Democratic nomination for the Big Apple's mayoral race this fall, has an 81% chance of winning the election this November, according to data from Interactive Brokers reviewed on Wednesday afternoon.Over the last week, Mamdani's odds have remained above 75% […]